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While still a month away, the Olympic Games will take place this summer in London and will present astute bettors with plenty of opportunities to cash in. You'll be able to bet on such non traditional betting events like weight lifting, gymnastics, track and field events, badminton, and more. Sharp bettors will have already started doing their homework on these events and will be licking their chops for the games to begin.

The Summer months can be a drag for sportsbooks as the betting world sits back and waits for the almighty football season to begin. Sportsbooks will attempt to put as many propositions on the table for the Olympic games as they possibly can in an attempt to drum up some interest and that's where your potential edge can be found. You're on a level playing field with the sportsbooks when it comes to most of these events. They aren't used to making odds on something like the pole vault. It's not something they do every day, or every year, for that matter. Mistakes will be made.

5 Dimes Sportsbook already has some props listed, such as over under numbers for total medals won, by Country. You can even wager on some Country vs. Country Gold medal props. For example, the United States is a -140 favorite to win more Gold Medals than China.

Bettors beware though. Making money betting on the Olympic Games may require you to wager against your Country! Just as a bettor can't have favorite teams when betting traditional sports, you have to leave patriotism at the door when betting the Olympics. In many events, you'll be getting extraordinary value betting against the US as sportsbooks with a heavy US clientele will no doubt be taking tons of action on all US contestants regardless of their talent level. If an American has the chance for a gold medal in a big event, you can be sure their odds will be out of whack because people will push money through the windows like crazy.

No different than investing in foreign markets. You have to be able to separate your love for your country and your love for your own bottom line financially. Start doing your homework now. Opportunities await!

Listed below are some odds from 5 Dimes on most medals won as well as country vs. country matchups.

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